Vancouver, May 15, 2007 - Canasil Resources Inc. (“Canasil” TSX-V: CLZ, “The Company”) is pleased to announce that it has retained Pro-Edge Consultants Inc. (“Pro-edge”) to provide investor relations services effective May 14, 2007. Pro-Edge, a Toronto-based IR firm representing public companies since 2001, will assist with the coordination and implementation of Canasil’s investor relations program. This will include presentations and introduction of the Company’s projects and programs to the investment community, brokers and institutions, as well as coordination of media relations and industry conferences.
Pro-Edge will receive a fee of $5,000 per month during the initial 6 month term of the engagement, and the Company will issue 200,000 options to Pro-Edge, each exercisable to acquire one common share at $0.75 for a period of two years. The options will vest in equal quarterly installments over a period of twelve months in accordance with the Company’s incentive stock option plan. The investor relations agreement and the grant of options are subject to acceptance by the TSX Venture Exchange.
Bahman Yamini, President and CEO of Canasil commented, “We are very pleased to start our cooperation with Pro-Edge and believe that their established network of contacts and experience with introducing public companies to the investment and financial community will have a positive impact on our future progress.”
Pro-Edge Managing Partner Fred Cowans added, “We have been following Canasil’s development for several quarters and are impressed by what they are achieving. We are very excited about working with Canasil.”
Canasil is a Canadian mineral exploration company with interests in precious and base metal properties in British Columbia, Canada, and in Durango, Sinaloa and Zacatecas States, Mexico. The Company’s directors and management include industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of mineral properties and evaluating additional acquisition opportunities.
For further information please contact:
President and C.E.O.
Canasil Resources Inc.
Tracy Weslosky or Fred Cowans
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the content of this news release.